Afton Chemical had decreased profits last year, despite enjoying a strong fourth quarter, and Valvoline reported a decrease in operating income but an increase in sales for its first quarter.
Valvoline reported increased operating income, Clean Harbors Safety-Kleen segment posted higher revenues, HollyFrontiers lubricants and special products segment reported lower income from operations and Quaker Chemicals net income increased, for the quarter ending Sept. 30.
Heritage-Crystal Cleans oil business segment and Milacrons Fluid Technologies segment each reported increases in revenue, and Quaker Chemical posted increases in net sales and net income.
Calumet Specialty Products Partners, L.P. reported a $23.6 million loss, improving from a $33.4 million loss in 2016s third quarter. The company announced Nov. 10 it would delay reporting of its third quarter earnings.
Afton Chemicals petroleum additives segment posted higher operating profit, while Quaker Chemical and HollyFrontiers lubricants segment recorded weaker financial results for the quarter ended June 30. Valvolines performance was level with the same period of 2018, while Clean Harbors Safety-Kleen segment had higher revenues.
Cincinnati-based Milacron Holding Corp.s Fluid Technologies segment posted operating earnings of $5.9 million for the fourth quarter, up 40.5 percent from $4.2 million in 2016s fourth quarter.
Calumet Specialty Products Partners, L.P. posted a significant net loss and decline in sales, while Cosans Moove lubricants segment saw increases in net revenue and net income.
Despite a weak fourth quarter, Moove - Cosans lubricant production and distribution arm - had a strong 2017 marked by increased lubricant sales volume and healthy net revenue, the company said in its earnings report.
Calumet Specialty Product Partners L.P. reported a $64.9 million net loss for 2017s fourth quarter, smaller than the $79.6 million net loss in 2016s fourth quarter. For the full year the companys net loss shrank to $85.1 million, compared to a $328.6 million net loss for 2016.
The Securities and Exchange Commission on Nov. 25 charged Calumet Specialty Products Partners L.P. with posting an inaccurate and misleading earnings release in 2017. Without admitting or denying the findings, Calumet consented to entry of the SECs order and agreed to pay a fine of $250,000 as part of a resolution to the investigation.